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Russia's foreign ministry said after a phone call between the two diplomats that the cooperation is 'possible only on the basis of equality, mutual respect and a balancing interests'

Russian foreign minister Sergei Lavrov told US counterpart Rex Tillerson Friday that Moscow remained ready to work with Washington despite striking back at new sanctions being readied approved by Congress.

"Lavrov confirmed that our country is still ready to normalise bilateral relations with the US and to cooperate on the most important international issues," Russia's foreign ministry said after a phone call between the two top diplomats.

"However this is possible only on the basis of equality, mutual respect and a balancing interests," the ministry said.